News & Events

David Pfeffer Quoted on the Industry Shift Towards Shared Working Environments

Construction chair David Pfeffer was quoted in a CoStar article, “NYC Office Market Grapples with Old Buildings, New Work Styles.” The article addressed the shift in how companies are using space and how the shared working environment trend is affecting older buildings. Regarding shared workspaces, David stated, "Large companies are starting to embrace shared workspaces with more frequency for large numbers of employees. Younger professionals want dynamic environments. They don’t necessarily expect an office with a window, but they want other things like collaborative space, stocked pantries, etc." He also addressed how the trend is affecting older buildings on the east side noting, "Owners are talking about razing some buildings - those that are under 20 stories - to take advantage of the rezoning that was approved last year for Midtown East." CoStar is a leading commercial real estate information web site. To read the full article, click here.